Avior Wealth Management LLC Buys 326 Shares of Newmont Co. (NYSE:NEM)

Avior Wealth Management LLC lifted its position in Newmont Co. (NYSE:NEM) by 191.8% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 496 shares of the basic materials company’s stock after acquiring an additional 326 shares during the quarter. Avior Wealth Management LLC’s holdings in Newmont were worth $27,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. PNC Financial Services Group Inc. increased its stake in Newmont by 14.2% in the 3rd quarter. PNC Financial Services Group Inc. now owns 152,118 shares of the basic materials company’s stock valued at $8,131,000 after buying an additional 18,895 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in shares of Newmont during the third quarter valued at approximately $6,273,000. W.G. Shaheen & Associates DBA Whitney & Co lifted its holdings in Newmont by 0.4% during the third quarter. W.G. Shaheen & Associates DBA Whitney & Co now owns 203,769 shares of the basic materials company’s stock worth $10,891,000 after acquiring an additional 840 shares during the period. Caprock Group LLC boosted its position in Newmont by 5.5% in the third quarter. Caprock Group LLC now owns 85,006 shares of the basic materials company’s stock worth $4,544,000 after purchasing an additional 4,414 shares during the last quarter. Finally, Pathstone Holdings LLC grew its stake in Newmont by 9.1% in the 3rd quarter. Pathstone Holdings LLC now owns 131,332 shares of the basic materials company’s stock valued at $7,020,000 after purchasing an additional 10,967 shares during the period. Hedge funds and other institutional investors own 68.85% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. Argus upgraded Newmont from a “hold” rating to a “buy” rating and set a $58.00 target price on the stock in a research note on Thursday, August 29th. Bernstein Bank boosted their target price on shares of Newmont from $55.00 to $58.00 in a research note on Monday, November 11th. UBS Group downgraded shares of Newmont from a “buy” rating to a “neutral” rating and reduced their target price for the company from $67.00 to $54.00 in a research report on Wednesday, October 30th. CIBC cut shares of Newmont from a “sector outperform” rating to a “neutral” rating in a report on Monday, October 28th. Finally, Cibc World Mkts lowered Newmont from a “strong-buy” rating to a “hold” rating in a report on Monday, October 28th. Eight analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $54.31.

Insider Activity

In related news, EVP Peter Toth sold 3,000 shares of Newmont stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $53.81, for a total transaction of $161,430.00. Following the completion of the sale, the executive vice president now owns 91,596 shares of the company’s stock, valued at approximately $4,928,780.76. This trade represents a 3.17 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Thomas Ronald Palmer sold 20,000 shares of the company’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $53.81, for a total value of $1,076,200.00. Following the completion of the transaction, the chief executive officer now owns 271,469 shares in the company, valued at $14,607,746.89. This represents a 6.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 46,000 shares of company stock worth $2,444,440 in the last three months. Corporate insiders own 0.06% of the company’s stock.

Newmont Price Performance

Newmont stock opened at $42.46 on Tuesday. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.96 and a quick ratio of 1.73. Newmont Co. has a one year low of $29.42 and a one year high of $58.72. The firm has a market capitalization of $48.34 billion, a P/E ratio of -27.93, a PEG ratio of 0.38 and a beta of 0.51. The business has a fifty day moving average price of $50.01 and a 200-day moving average price of $47.51.

Newmont (NYSE:NEM) last announced its quarterly earnings results on Wednesday, October 23rd. The basic materials company reported $0.81 earnings per share for the quarter, missing the consensus estimate of $0.86 by ($0.05). Newmont had a negative net margin of 7.03% and a positive return on equity of 9.80%. The company had revenue of $4.61 billion for the quarter, compared to the consensus estimate of $4.67 billion. During the same quarter in the prior year, the company earned $0.36 earnings per share. The company’s quarterly revenue was up 84.7% on a year-over-year basis. As a group, equities research analysts forecast that Newmont Co. will post 3.09 EPS for the current year.

Newmont Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 23rd. Shareholders of record on Wednesday, November 27th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 2.36%. The ex-dividend date is Wednesday, November 27th. Newmont’s payout ratio is -65.79%.

About Newmont

Newmont Corporation engages in the production and exploration of gold. It also explores for copper, silver, zinc, and lead. The company has operations and/or assets in the United States, Canada, Mexico, Dominican Republic, Peru, Suriname, Argentina, Chile, Australia, Papua New Guinea, Ecuador, Fiji, and Ghana.